Hello everyone. I have been lurking on this fourm for a month or 2 now and have gleaned a bunch of useful information. A few weeks ago I received an offer letter from NCO. It is for a debt that went 7 yrs without activity and as a result it has fallen from my credit reports. The letter contains the following paragraphs: 'Unless you notify this office within 30 days after receiving this notice that you dispute the validity of the debt or any portion thereof, this office will assume this debt is valid. If you notify this office within 30 days from receiving this notice, this office will obtain verification of the debt or obtain a copy of a judgement and mail you a copy of such judgement or verification. If you request this office in writing within 30 days after receiving this notice, this office will provide you with the name and address of the original creditor, if different from the current creditor. Should you choose not to accept the offer, your account balance may be periodically increased due to the addition of accrued interest or other charges as provided in your agreement with the original creditor or as otherwise provided by state law.' Should I send a letter of validation or just ignore them since the debt is no longer no my credit report and is past the SOL for my state? What kind of repracussions should I expect if I did send a letter of validation? Thanks in advance.
What are your goals with this? They have admitted to it being SOL in their letter. So they can bother you with letters and phone calls. Are you bothered by them doing that?
Sending a DV now serves no purpose as Bob aptly implies. Tell them to piss off via a cease and desist if you don't care to hear from them anymore.
A few weeks ago I received an offer letter from NCO. It is for a debt that went 7 yrs without activity and as a result it has fallen from my credit reports. So many people post these type of comments on this board.How were you able to dodge the ca's all these years?Just because it may be sol does not seem to bother some ca's.Some posters on this board were stunned to find their bank account frozen because they got a default judgment for failing to respond to a ca's demands because their debt was sol so they did nothing.I started to get letters from ca's only a year or two after a couple of my accounts went into default.Yet some people post on this board they don't recall a debt that some ca is now bugging them about that's 8,9 10 etc years old.Strange!!!
No, not strange at all. JDBs devote as much as 40% of their staff to information technology. They are constantly evaluating strategies to pursue debtors and debt. Ineffective strategies fall into disuse. Contacting destitute debtors is one such strategy. There is plenty of information kicking around that separates the destitute from the recovered debtors. The latter are where the money is. Age of the account is no barrier to them trying every bit of leverage they can muster to get it paid. SOL is an affirmative defense. If they practice sewer service and get defaults, a certain percentage of them will get paid. They hope it will be enough to give 'em a good ROI. The only real defense is to have airtight records ... especially records indicating that a JDB knew where to find you and had been apprised that you no longer recognized the debt due to SOL or any other defense you've got. If you absolutely know it's SOL, send a FOAD letter ... otherwise DV and see if they'll send you records proving SOL out of their own mouths ... if they can get records ... if they will bother getting records ... in any case you've got it documented that you wanted them. Otherwise you're open to them making the next move. From behind you in a legal dark alley...
Lol, thats what i call bold advice! These guys are probably oppotunists going through old records and harrasing people in the hope that some of them will pay up, its likely the original creditor had already given up.
Eh, it's really not worth taking any additional measures. If they do sue, then you plead the statute of limitations as an affirmative defense and certain FDCPA/FCRA violations if they're reporting (which they often aren't due to age).
